Waddell & Reed

  www.waddell.com
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Waddell & Reed Reviews

Updated Jul 17, 2014

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All Employees Current Employees Only

3.1 152 reviews

75% Approve of the CEO

Waddell & Reed President, CEO, and Director Hank Herrmann

Hank Herrmann

(97 ratings)

45% of employees recommend this company to a friend

Review Highlights

Pros
  • Great resources to some of the best mutual funds in the industry(in 21 reviews)

  • Freedom to own my book of business(in 5 reviews)


Cons
  • You will get pressured into bringing your family and friends on board(in 7 reviews)

  • I didn't know that when I signed on to become a Financial Advisor(in 10 reviews)

152 Employee Reviews
in
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    • Approves of CEO

     

    Great company, great management!

    Financial Advisor (Current Employee) Hartford, CT

    ProsThis company is awesome for the following reasons: Flexibility in work schedule, you own your book of business, higher payouts than Merryl Lynch, Morgan Stanley, or those other employee-type firms. Plus the renewal income on assets is much higher than the other outfits I've looked at. Also, the marketing programs they have for you to plug into are awesome. You get to run your business as you see fit, but you aren't out there all by yourself. We all work together in our Hartford branch.

    Conscan't think of anything now.

    Advice to Senior Managementkeep up the great work!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Colorado Springs Office - Excellent Choice!

    Financial Advisor (Current Employee) Colorado Springs, CO

    ProsMentors help newer advisors learn the ropes and most senior advisors are approachable. Once you are up and running, as long as you're making your numbers, there isn't much "required" from management. Relationships are key to building and growing your business. It is your book of business and can be sold at any time.

    ConsIf you're just getting started, be prepared to work 60+ hours each week filling your pipeline. Pure commission-based earnings (with some bonuses). In this field, none of the cons should be a surprise. You are building your own business.

    Advice to Senior ManagementKeep building the training program and using mentors to assist newer advisors in learning the ropes.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Great company great funds and great management

    Financial Advisor (Current Employee)

    ProsGreat job to have helping people of all financial positions attain the ability to retire with more money than if they had managed it themselves. Help hard working people achieve their financial goals
    Unlimited income potential

    ConsTaking large amounts of time off is difficult as markets change quickly but you make your own schedule as a 1099 person so it comes with built in advantages for people with children

    Advice to Senior ManagementMore localized training and come into the technology age of Twitter, Facebook, LinkedIn etc and a lot less paperwork

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
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    • Approves of CEO

    1 person found this helpful  

    Greatest opportunity in Colorado Springs!

    Financial Advisor (Current Employee) Colorado Springs, CO

    ProsAbility to come into the business at an entry level. Training offers mentors who are willing to help and a supportive team environment. Leadership seems to really care about the staff and are very helpful. Very flexible with hours and you can make a lot of money here.

    ConsYou do have to build your practice, but there are a lot of resources available to help you do this. Not an opportunity for everyone, but a great opportunity for the right people!

    Advice to Senior ManagementKeep up the good work!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Colorado Springs office is excellent

    Financial Advisor (Current Employee) Colorado Springs, CO

    ProsGood pay structure, supportive management and infrastructure, little to no direct competition from supportive colleagues. Emphasis on ethics and personal service regarding clients. You can generally set your own schedule, but some meetings are mandatory.

    ConsNo salary, difficult to get started - These challenges are the standard for this industry, some companies do offer salary but you end up paying for it in other ways.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Financial Advisor

    Financial Advisor (Current Employee) Tucson, AZ

    ProsTraining, support and learned skills

    ConsNo cons to this career

    Advice to Senior ManagementNot applicable

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Waddell & Reed provides great guidance in a tough business

    Financial Advisor (Current Employee) Denver, CO

    ProsHands on support from managers (who are no longer producing advisors) and colleagues. Competitive products and a vast array of financial planning tools and resources.

    ConsChallenges are specific to the industry as a whole. The manager that hired me made it known off the bat that this is a tough business, but helped me to understand how they would help me through these challenges.

    Advice to Senior ManagementGreat job!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Growing Fast

    Anonymous Employee (Current Employee) Overland Park, KS

    ProsTons of upward mobility for this fast growing firm, across many business divisions within the financial services industry.

    ConsTenured employees under performing in jobs they take for granted.

    Advice to Senior ManagementReward performance versus tenure

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    • No Opinion of CEO

     

    Very pleasant internship

    Human Resources Intern (Former Employee) Pittsburgh, PA

    Proslearned a great deal about human resources. didn't make coffee or anything like that. Seems like a great company to work for.

    Consthey were only hiring for financial advisor so i did not get offered a position at the end of the internship. everything else was fine

    Yes, I would recommend this company to a friend

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    1 person found this helpful  

    Entrepreneurial opportunity w/support

    Financial Advisor (Current Employee)

    ProsRespectable company that has been around a long time
    Organized training system
    Reasonable minimums to stay in good standing
    Freedom to own my book of business
    Much higher advisor payout than industry average

    ConsNot a W-2 position with base salary and expense account
    Technology could be better
    Low initial draw

    Advice to Senior ManagementUpgrade technology and do more branding for W&R Advisors...not just Ivy Funds.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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